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2017 First Quarter Commentary

For printable version which includes all graphs and tables, please click here.​​​​ Sign, Sign, Everywhere a Sign For those of you who are unfamiliar with it, Interstate 40 between Little Rock and Memphis has to be the most heavily trucked interstate in the country. It is not unusual to see five 18- wheelers for every car on that road. As a result, there is constant highway construction that can cause frequent delays. Recently, one of us was cruising down that interstate thinking about investing ideas and market valuations when he suddenly had to hit the brakes for a traffic jam. As he found himself sandwiched in stopped traffic, he could not help but notice the warning sign on the right. As

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